Williams Creek Announces First Results from Big Sky Geological Reconnaissance & Sampling Program
September 18 2012 - 2:00PM
Marketwired Canada
Williams Creek Gold Limited (TSX VENTURE:WCX) ("Williams Creek", "WCX" or the
"Company") is pleased to announce positive first results from its geological
reconnaissance and sampling program on its Big Sky joint venture, Yellowknife,
NT, Canada. The Company is earning 50% of the Big Sky Property from its Joint
Venture partner Tyhee Gold Corp. (News Releases WCX12-04, March 31/12 and
WCX12-06, May 31/12).
The rock samples are reconnaissance grab samples and were initially assayed for
gold by Acme Labs in Vancouver using fire assay method 3B01 with an ICP-ES
finish and additional 46 element analysis using 1EX ICP-MS. All samples
containing values greater than 10,000 parts per billion (ppb) gold were
re-assayed using two M150 G6.ME assays, one for the fine fraction and one for
the coarse fraction of the samples, to offset the 'nugget effect'. The coarse
and fine values were then combined by Acme Labs to arrive at the total grams per
tonne (gm/t) reported for the samples.
The results reported here are for samples returning greater than 500ppb. These
are initial results from a helicopter supported geologic mapping and sampling
program involving a senior geologist and a two-man prospecting team with long
experience in the Yellowknife district. The Big Sky property is located to the
north along strike from, and in similar host rocks to, the prolific Yellowknife
gold district. The samples were collected from both previously known and newly
identified mineralized shear zones. Additional sample results are pending. A
summary report on the 2012 geological investigation is expected in early October
and will be used to plan follow up programs, particularly targeting highly
anomalous gold values.
The following table lists the sample description, the Fire Assay ICP-ES parts
per billion (ppb) gold and the combined total gold M150 G6.ME assays in grams
per tonne.
----------------------------------- -----------------------------------
Au-M150 Au-M150
G6.ME G6.ME
Sample Au-ICP-ES Total Au, Sample Au-ICP-ES Total Au,
Description ppb gm/t Description ppb gm/t
----------------------------------- -----------------------------------
greater than
996011 805 996300 10,000 22.77
----------------------------------- -----------------------------------
greater than
996023 10,000 12.83 996382 1892
----------------------------------- -----------------------------------
996036 753 996383 4729
----------------------------------- -----------------------------------
996047 3146 996387 1294
----------------------------------- -----------------------------------
996048 1477 996388 3285
----------------------------------- -----------------------------------
996049 4150 996389 1273
----------------------------------- -----------------------------------
greater than
996150 10,000 20.19 996390 4820
----------------------------------- -----------------------------------
996164 740 996393 6332
----------------------------------- -----------------------------------
greater than less than
996193 10,000 41.4 996394 10,000 53.35
----------------------------------- -----------------------------------
greater than
996195 10,000 7.94 996395 6311
----------------------------------- -----------------------------------
greater than
996196 10,000 16.27 996396 5606
----------------------------------- -----------------------------------
greater than
996197 10,000 47.96 996397 2964
----------------------------------- -----------------------------------
greater than
996198 10,000 17.93 996398 1780
----------------------------------- -----------------------------------
996199 523 996399 1434
----------------------------------- -----------------------------------
996200 1042 996403 1699
----------------------------------- -----------------------------------
greater than
996201 10,000 13.68 996405 5442
----------------------------------- -----------------------------------
greater than greater than
996202 10,000 22.52 996407 10,000 9.73
----------------------------------- -----------------------------------
996232 621 996408 723
----------------------------------- -----------------------------------
996233 1469 996414 803
----------------------------------- -----------------------------------
996243 8216 996419 578
----------------------------------- -----------------------------------
996245 3993 996420 2595
----------------------------------- -----------------------------------
996254 7357 996422 622
----------------------------------- -----------------------------------
996257 968 996423 2963
----------------------------------- -----------------------------------
996349 2556 996425 1057
----------------------------------- -----------------------------------
greater than
996286 10,000 10.36 996427 614
----------------------------------- -----------------------------------
996292 6212 996437 1000
----------------------------------- -----------------------------------
996293 932 996440 791
----------------------------------- -----------------------------------
996294 672 996451 1181
----------------------------------- -----------------------------------
996296 4677 996461 1892
----------------------------------- -----------------------------------
996298 7050 996462 3827
----------------------------------- -----------------------------------
greater than
996299 798 996466 10,000 19.17
----------------------------------- -----------------------------------
These initial results are located at just seven of the mineralized zones within
the Big Sky Property. Mineralized vertical shears are commonly north south
trending features with variable widths and quartz vein/sulfide content.
Additional assays are pending and will be released upon receipt. A complete map
of the 2012 sample returns will be available on the Company website
(www.WilliamsCreek.ca) once all assays have been released.
Twenty samples occur at the northern portion of the Oro Lake Main Shear Zone, a
10-25m wide 2.8km long shear in mafic volcanics similar to the Giant Mine at
Yellowknife, NT (samples 996286, 996292, 996293, 996294, 996296, 996298 to
996300, 996414, 996419, 996420, 996422, 996423, 996425, 996427, 996437, 996440,
996451, 996461, 996462 and 996466).
Two samples are associated with a previously unrecorded showing east of the Main
Oro Shear in less than 25cm Arsenopyrite in quartz veins occurring on the
contacts of less than 2m wide less than 12m long silicified felsic dikes
(samples 996407 and 996408).
Ten samples are located within Arsenopyrite in quartz veins along the 2-8 m wide
by 1.8k m long WK Zone, a previously explored mafic shear in gneiss (samples
996011, 996023, 996047, 996048, 996049, 996150, 996164, 996201, 996202 and
996349).
Five samples occur in a newly discovered 100 by 100m Soggy Bottom Zone where
Arsenopyrite in thin less than 20 cm quartz veins is hosted by sheared gneiss
(samples 996193, 996195 to 996200, 996254 and 996257).
Five of the samples are associated with the 25m wide and 100m long newly
discovered Dewar's Knob showing which hosts less than 25cm wide, less than 2m
long semi-massive Arsenopyrite lenses within a sheared gneiss (samples 996036,
996245, 996388, 996389 and 996390).
Eight samples occur at the historically explored Havoc Zone which hosts multiple
2-8m wide and 500m long mafic shear zones with Arsenopyrite in quartz veining
(samples 996243, 996382, 996383, 996387, 996393 to 996399, 996403 and 996405).
Two of the samples occur at the Lost Drill showing in less than 30cm by 100m
Arsenopyrite in quartz veins that are sub-parallel to local bedding in
metasediments (samples 996232 and 996233).
"We are delighted with these early results," stated Company Chairman and CEO
Michael R. Sonnenreich, "and will be examining cost effective ways to further
explore these targets."
Brian K. Briggs, President and CEO of Tyhee Gold Corp., noted, "We are pleased
to have a joint venture partner like Williams Creek Gold, that is willing to
develop the Big Sky Property while we are focused on the nearer term development
of our Yellowknife Gold Project, beginning with the nearby Ormsby and Nicolas
Lake gold properties. With their help and investment, Tyhee is able to ensure
that Big Sky receives the attention we are confident it merits."
Mr. Sonnenreich concluded, "Williams Creek is dedicated to increasing
shareholder value and, if these positive preliminary results continue, we see
the Big Sky property as an excellent addition."
Williams Creek recently completed a soil geochemical program on its wholly owned
Ahbau Lake property, and is awaiting assay results.
The Chubby Bear and Ahbau Creek properties, acquired from New Gold Inc. (News
Release WCX12-03, March 7/12), are currently the subject of ongoing geochemical
soil sampling programs.
The technical information contained in this news release was prepared by Michael
B. Regular, P.Geo., a "Qualified Person" as defined under National Instrument
43-101. Mr. Regular conducted the 2012 Big Sky program. Mr. Regular is an
independent consultant to Williams Creek.
About Williams Creek Gold Limited (WCX)
Visit http://www.WilliamsCreek.ca to learn more about Williams Creek Gold Limited.
Williams Creek Gold Limited is a Canadian company with the primary purpose of
participating broadly in the natural resource sector, with an emphasis on the
gold subsector, through exploration, joint ventures or other equity investments,
royalty and finance agreements.
Williams Creek Gold Limited owns twenty-eight Crown Granted mineral claims known
as the Barkerville Project in the immediate vicinity of Barkerville, BC in the
Cariboo mining division. The Cariboo gold belt and the Barkerville Camp have a
long history of gold production dating back to the 1800s. Historically the
Barkerville Camp has reported gold production of 3.8 million ounces, including
2.6 million ounces from surface placer and 1.2 million ounces from lode mining.
When placer gold production peaked in the late 1890s, Williams Creek Gold's
Black Jack (District Lot 1B), Home Stake (District Lot 4B), Cornish (District
Lot 1F) and Wintrip (District Lot 32F) Crown Granted mineral claims were among
the first acquired in the early search for lode gold.
Williams Creek Gold Limited also owns a block of four mineral claims 17km west
of Barkerville known as the Pine Properties. The Company has three Crown Granted
mineral claims in the Kamloops Mining Division, two of which are adjacent to New
Gold's New Afton project. Williams Creek Gold Limited also owns the Ahbau Creek,
Chubby Bear and Ahbau Lake claim groups in Central British Columbia.
Williams Creek Gold is earning a 50% interest through a joint venture with Tyhee
Gold Corp. in the Big Sky Property north of Yellowknife, NWT.
Additionally, Williams Creek Gold Limited has a net 30% interest in the ATW
diamond property in the MacKenzie Mining District of the Northwest Territories.
Williams Creek also holds the BOPS Project consisting of 32 unpatented lode
mining claims in Pershing County, Nevada.
On behalf of the Board of Directors,
Michael R. Sonnenreich, Chairman and CEO
Williams Creek Gold Limited
This news release may contain forward-looking statements including management's
assessments of future plans and operations, and expectations of future
production. These statements are based on current expectations that involve a
number of risks and uncertainties, which could cause actual results to differ
materially from those anticipated. These risks include, but are not limited to,
the risks associated with the mining and exploration industry (e.g. operational
risks in development, exploration and production; delays or changes in plans
with respect to exploration or development projects or capital expenditures; the
uncertainty of reserve estimates; the uncertainty of estimates and projections
relating to production and the uncertainty of the availability of capital). The
assumptions used in the preparation of such statements, although considered
reasonable at the time of preparation, may prove to be imprecise and, as such,
undue reliance should not be placed on forward-looking statements.
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